Luminar Technologies Inc. [LAZR] stock Initiated by Credit Suisse analyst, price target now $22


Luminar Technologies Inc. [NASDAQ: LAZR] traded at a high on 07/27/22, posting a 5.68 gain after which it closed the day’ session at $6.33. The company report on July 12, 2022 that Luminar to Provide Quarterly Business Update on August 8, 2022.

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Luminar (Nasdaq: LAZR), a leading global automotive technology company, today announced that it will provide its quarterly business update and report its financials for the second quarter of 2022 following the close of the market on Monday, August 8, 2022.

Founder and CEO Austin Russell and CFO Tom Fennimore will host a video webcast that day at 2:00 p.m. PT (5:00 p.m. ET) to discuss business and financial results followed by a live Q&A session.

The results of the trading session contributed to over 4538324 shares changing hands. Over the past one week, the price volatility of Luminar Technologies Inc. stands at 6.77% while the volatility over the past one month is 7.89%.

The market cap for LAZR stock reached $2.52 billion, with 348.68 million shares outstanding and 231.35 million shares in the current float. Compared to the average trading volume of 6.37M shares, LAZR reached a trading volume of 4538324 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Luminar Technologies Inc. [LAZR]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LAZR shares is $15.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LAZR stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for Luminar Technologies Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 14, 2022. While these analysts kept the previous recommendation, SMBC Nikko raised their target price to Neutral. The new note on the price target was released on March 29, 2022, representing the official price target for Luminar Technologies Inc. stock. Previously, the target price had yet another raise to $14, while Goldman analysts kept a Neutral rating on LAZR stock.

The Average True Range (ATR) for Luminar Technologies Inc. is set at 0.48, with the Price to Sales ratio for LAZR stock in the period of the last 12 months amounting to 75.36. The Price to Book ratio for the last quarter was 17.58, with the Price to Cash per share for the same quarter was set at 1.77.

How has LAZR stock performed recently?

Luminar Technologies Inc. [LAZR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.85. With this latest performance, LAZR shares dropped by -11.84% in over the last four-week period, additionally sinking by -48.91% over the last 6 months – not to mention a drop of -63.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LAZR stock in for the last two-week period is set at 44.48, with the RSI for the last a single of trading hit 46.93, and the three-weeks RSI is set at 42.44 for Luminar Technologies Inc. [LAZR]. The present Moving Average for the last 50 days of trading for this stock 7.78, while it was recorded at 6.52 for the last single week of trading, and 13.28 for the last 200 days.

Luminar Technologies Inc. [LAZR]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Luminar Technologies Inc. [LAZR] shares currently have an operating margin of -704.52 and a Gross Margin at -44.29. Luminar Technologies Inc.’s Net Margin is presently recorded at -745.01.

Return on Equity for this stock declined to -137.28, with Return on Assets sitting at -34.15.

Luminar Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 15.80 and a Current Ratio set at 16.10.

Insider trade positions for Luminar Technologies Inc. [LAZR]

There are presently around $665 million, or 47.20% of LAZR stock, in the hands of institutional investors. The top three institutional holders of LAZR stocks are: VANGUARD GROUP INC with ownership of 19,218,462, which is approximately 1.607% of the company’s market cap and around 0.90% of the total institutional ownership; G2VP I ASSOCIATES, LLC, holding 10,598,865 shares of the stock with an approximate value of $67.09 million in LAZR stocks shares; and MACQUARIE GROUP LTD, currently with $36.76 million in LAZR stock with ownership of nearly 0.246% of the company’s market capitalization.

Positions in Luminar Technologies Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 118 institutional holders increased their position in Luminar Technologies Inc. [NASDAQ:LAZR] by around 19,276,423 shares. Additionally, 97 investors decreased positions by around 7,437,913 shares, while 53 investors held positions by with 78,344,263 shares. The mentioned changes placed institutional holdings at 105,058,599 shares, according to the latest SEC report filing. LAZR stock had 40 new institutional investments in for a total of 8,767,461 shares, while 44 institutional investors sold positions of 2,570,668 shares during the same period.